HOW MUCH IS MY WATCH REALLY WORTH?
High-end wristwatches are the ultimate expression of luxury and artistry. Combining complex mechanisms with sophisticated designs, luxury watches such as Rolex and Patek Philippe are internationally recognized status symbols. And while each pre-owned luxury timepiece can be appreciated for its combination of craftsmanship and technical skill, their individual resale values vary greatly.
‘What is my watch worth?’ may seem like a simple and straightforward question, but there are a number of different factors that are taken into account when assessing the value of a watch, including:
- Box and papers
- Model/Limited Edition Pieces
These factors play a large part in determining the resale value of a timepiece. The value of your watch is specific to your particular timepiece, so although this may help as a guide, the only way to obtain a more exact estimation is by consulting a specialist watch buyer.
Factors that will affect the resale value of your watch:
Luxury branded watches inherently hold greater value than watches from non-luxury brands. Aside from more expensive materials being used to produce luxury watches, the prestige of the brand name alone also adds value. This is especially true if the brand is particularly popular at the time and place of selling, which is subject to change. However, some luxury watch brand names are consistently popular such as: Rolex, Patek Philippe, Cartier and Omega, to name a few.
Box and papers
Having the original documentation for your watch, including the box and papers is extremely helpful in determining the value of your watch. The box and papers alone add between 20%-50% to the secondhand price of your watch as they provide proof that your watch is authentic. For more information on selling watches without the box and papers.
Model and Limited edition Pieces
Certain watch models are more sought after than others, regardless of the original selling price. It depends on what is in demand and what the current watch market trends are. At WP Diamonds, our luxury watch experts are constantly analyzing the secondhand watch market to determine both how specific brands and models are performing.
Limited edition watches typically have a higher secondhand value as rare items fetch higher selling prices. Identifying any special or unusual features will help assess the worth of your preowned watch and whether it is a collectible item or not.
Condition of the watch
Is your watch in working condition? Is there any damage or missing parts? Has it been altered with aftermarket parts? The resale value of your watch will be considerably higher if it has been kept in a good and working condition and has non non-original parts. If your watch has been regularly serviced, this will help to keep the value of the watch at a higher price.
Is your watch antique or vintage? Just because a watch is old, does not mean that it is necessarily rare or that it holds much value. If your timepiece was part of a small batch of watches made, the value is more likely to be higher. However, this is still dependent on whether your watch is in working condition and what the repair costs would be. An older, luxury watch may hold more value if there is a limited number of these watches remaining.
Tip: Make sure to include good quality photos when selling your watch as this will help you sell the watch and receive an accurate initial price quote.